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Follow-On Offerings Bring Ray of Hope to Downtrodden ECM Market

Pedestrians in front of the Nasdaq MarketSite in New York, US, on Wednesday, June 15, 2022.

Pedestrians in front of the Nasdaq MarketSite in New York, US, on Wednesday, June 15, 2022.

Photographer: Michael Nagle/Bloomberg

Hi, it’s Crystal Tse in New York. Today, we’re discussing the slow but steady return of secondary offerings and what it could mean for the slumbering IPO market. Plus, who’s selling and who’s (not) buying Manchester United FC.

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After sitting around for most of the year, equity capital market bankers are finally seeing some business returning in the form of follow-on offerings. Still, it’s unlikely that this will be a busy year by any measure.